Ceigall India Ltd Approves Loan Security & Investment in Subsidiary

Ceigall India Limited's Management Committee has approved the creation of security for a Rupee Term Loan facility for its wholly-owned subsidiary, Velgaon Power Transmission Limited (Project SPV). The subsidiary will use the loan for project financing. Additionally, the committee approved further investment in the Project SPV through equity and loans to meet fund requirements. Velgaon Power Transmission Limited is involved in the 'Establishment of 400/220 kV Velgaon Substation (GIS) through Tariff based Competitive Bidding (TBCB) Process'. The company is required to infuse ₹109.19 crore into the project SPV.